Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers fromCompany A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation ofYou may need to use the appropriate technology to answer this question.the amount managed by advisers from Company A was s,at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of$589 million. The standard deviation of the amount managed by advisers from Company B was s, = $486 million. Conduct a hypothesis testfunds managed by advisers from the two firms?State the null and alternative hypotheses.Ho: 010222Ha: 01022Ho: 01Hai 012022Ho: o12Ha: 01 > 02°Ho: o?2> 022Find the value of the test statistic. (Round your answer to two decimal places.)Find the p-value. (Round your answer to four decimal places.)p-valueState your conclusion.Do not reject Ho. We cannot conclude there is a statistically significant difference between the variances for the two companies.Reject Ho. We can conclude there is a statistically significant difference between the variances for the two companies.Reject Ho. We cannot conclude there is a statistically significant difference between the variances for the two companies.Do not reject Ho. We can conclude there is a statistically significant difference between the variances for the two companies.

Name: Data were collected on the top 1,000 financial advisers. Company A ha
Uploaded: 2024-03-05T11:52:21.000Z
Channel: Bartleby
Description: Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers fromCompany A and 10 of the advisers from Company B showed that

Math

Statistics

Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s, = $589 million. The standard deviation of the amount managed by advisers from Company B was s, = $486 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. = 0,2 Ho: o,?soz? Hgi 0,? > 0z? Họ: o,? > oz? Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Do not reject Ho: We cannot conclude there is a statistically significant difference between the variances for the two companies.

Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s, = $589 million. The standard deviation of the amount managed by advisers from Company B was s, = $486 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. = 0,2 Ho: o,?soz? Hgi 0,? > 0z? Họ: o,? > oz? Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Do not reject Ho: We cannot conclude there is a statistically significant difference between the variances for the two companies.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: The heights of adult men in America are normally distributed, with a mean of 69.7 inches and a…

Q: One year Thomas had the lowest ERA (earned-run average, mean number of runs yielded per nine innings…

Q: One year Thomas had the lowest ERA (earned-run average, mean number of runs yielded per nine…

A: We have given that X~N( μ , ?^2 ) Z-score =( x - μ )/?

Q: A health psychologist is interested in the potential effect that a change in career focus can have…

A: Let the systolic blood pressure be denoted by X. Given: X~N142, 132 sample size (n) used: 23 sample…

Q: Ermias and Trinidad began arguing about who did better on their tests, but they couldn't decide who…

A: given data Ermias : μ1 = 76.7 σ1 = 10.5 x1 = 76.5Trinidad : μ2 = 64.5 σ2 = 8.1…

Q: Suppose a convenience store near a college campus sells two complementary products, energy drinks…

A: Let, X denotes the number of energy drinks and Y denotes the number of snacks sold per students.…

Q: A student graduated from a 4-year college with an outstanding loan of $9650 where the average debt…

A: Given, X1 =9650, = 8455, =1865, X2 = 12360, = 10326, = 2143 Z score = x-μσ

Q: Imagine that every elementary school in California is measured on several characteristics and then…

Q: What percentage of students from this school earn scores that satisfy the admission requirement?…

A: It is given thatMean, μ = 1490Standard deviation, σ = 296Z-Score, Z = ( X - μ )/σwhere, Z be the…

Q: A group of domestic equity mutual funds had a mean return of 6.2% with a standard deviation of 1.8%.…

A: Given information:- μ=6.2, σ=1.8 a) The P-value for the lowest 16% score = 0.16 Determine the…

Q: The National Sleep Foundation surveyed representative samples of adults in six different countries…

A: we have given that n1=250 ,n2=250 ,xbar1=391 ,xbar2=426 ,s1=20 ,s2=44 alpha=0.05

Q: The reading speed of second grade students in a large city is approximately normal, with a mean of…

Q: A study was performed on patients with pituitary adenomas. The standard deviation of the weights of…

A: State the hypotheses. That is, there is no evidence to conclude that the weights of the patients…

Q: Marine biologist at Nova Southeastern University spent three months on a research expedition tagging…

A: The given information is: For females, Sample sizen1=142 Sample meanx¯1=68.3 Sample standard…

Q: According to a health statistics center, the mean weight of a 20-to-29-year-old female is 156.5…

A: Formula for z score , z=x-μσ Where , μ is mean σ is standard deviation

Q: The National Center for Health Statistics reports that the average systolic blood pressure for males…

A: Here, The claim to be tested is "The medical director of a large company believes the average…

Q: Ojai is a weather station in the state of California and Seabrook is a weather station in the state…

A: Given information- We have given the data of noontime temperatures recorded among weather stations…

Q: Suppose 18% of movie-goers say that horror is their favorite movie genre. If a random sample of…

A: Obtain the mean number of movie-goers that prefer horror movie genre. The mean number of movie-goers…

Q: The carbon dioxide emissions of EU nations had a mean of 7.9 and standard deviation of 3.6. a.…

A: Since we have given that Mean(µ) = 7.9Standard deviations (σ) = 3.6 Since part (a) you have already…

Q: A health psychologist is interested in the potential effect that a change in career focus can have…

A: We hvae to find point estimate for the mean systolic blood pressure for divorce lawyers who switch…

Q: It seems these days that college graduates who are employed full-time work more than 40-hour weeks.…

Q: It seems these days that college graduates who are employed full-time work more than 40 -hour…

A: Given information- Population mean, μ = 40 Sample size, n = 19 Sample mean, x-bar = 44 Sample…

Q: The average McDonald's restaurant generates $3.4 million in sales each year with a standard…

Q: One year Josh had the lowest ERA (earned-run average, mean number of runs yielded per nine innings…

A: ERA- Earned-run average Josh's ERA =2.94 For males, mean ERA=4.257 standard deviation=0.664 Sally's…

Q: According to the historical data, the life expectancy in the United States is less than the life…

Q: One year Thomas had the lowest ERA (earned-run average, mean number of runs yielded per nine…

Q: A painter purchases two types of paints, paint A and paint B. The amount of paint A purchased per…

A: Expected amount spent by firm on both types of paints combined is as follows…

Q: According to one source, the average yearly cost to house a prisoner in the United States in a…

A: State the hypotheses.

Q: Find their respective z-scores. Which player had the better year relative to their peers, Hank or…

A: Given For males, μ=4.296σ=0.907 For females μ=3.764σ=0.866

Q: The deaths attributed to UV radiation have a mean of 141.5 with a standard deviation of 92.1.…

A: Mean = 141.5 Standard deviation = 92.1 Raw score = 343

Q: On a statistics examination the mean was 78 and the standard deviation was 10. (a) Determine the…

A: Step 1:Given :mean μ = 7standard deviation σ = 10 a) The standard score of the student whose grade…

Q: The book Investments by Zvi Bodie, Alex Kane, and Alan Marcus claims that the returns for investment…

A: 1] Standard deviation for the first portfolio=0.55 2] Standard deviation for the second…

Q: According to the historical data, the life expectancy in the United States is less this has changed.…

A: Solution: Given information: n1=230n2=205x1=77.7x2=75.9s1=8.8s2= 7.5

Q: The tallest living man at one time had a height of 259 cm. The shortest living man at that time had…

Q: According to the American Red Cross, 11.6% of all Connecticut residents have Type B blood. A random…

A: The question is about discrete probability distributionGiven :Probability of all CT residents have…

Q: One year thomas had the lowest ERA (earned-run average, mean number of runs yielded per nine…

A: GivenThomas has an ERA of 2.67 and Sarah has an ERA of 2.99For males,For femalesTo find the z-score…

Q: A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences…

A: Given information: Margin of error is m=1.00 Standard deviation is 3.50. Confidence level is 90%.…

Q: health psychologist is interested in the potential effect that a change in career focus can have on…

Q: In one town, the number of pounds of leafy greens consumed per person per year has a mean of 10…

A: (1) Standardized z-score: The standardized z-score represents the number of standard deviations…

Q: banker finds that the number of times people use automated-teller machines (ATMs) in a year are…

A: We have given Mean(µ) = 40Standard deviations (σ) = 11.2X ~ N (µ, σ )= N(40, 11.2)

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.

Topic Video

Question

Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from
Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of
You may need to use the appropriate technology to answer this question.
the amount managed by advisers from Company A was s,
at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of
$589 million. The standard deviation of the amount managed by advisers from Company B was s, = $486 million. Conduct a hypothesis test
funds managed by advisers from the two firms?
State the null and alternative hypotheses.
Ho: 01
02
2
2
Ha: 01
02
2
Ho: 01
Hai 01
2
02
2
Ho: o
1
2
Ha: 01 > 02°
Ho: o?
2
> 02
2
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to four decimal places.)
p-value
State your conclusion.
Do not reject Ho. We cannot conclude there is a statistically significant difference between the variances for the two companies.
Reject Ho. We can conclude there is a statistically significant difference between the variances for the two companies.
Reject Ho. We cannot conclude there is a statistically significant difference between the variances for the two companies.
Do not reject Ho. We can conclude there is a statistically significant difference between the variances for the two companies.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Given information

VIEW

Step 2: Step 2

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 12 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Application of Algebra$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

Suppose a researcher wants to know if the average diastolic blood pressure in Irish-Americans is different than the average diastolic blood pressure in the general population. Note that the average diastolic blood pressure in the general population is 70 mmHG. The researcher recruits 30 Irish-Americans into this particular study and then measures each of their diastolic blood pressures (mmHG). The sample standard deviation in this sample is 3.0. Note that we do not know the population standard deviation (commonly denoted σ). If we want to build a 95% confidence interval, what is the "t-value" used in the interval? Recall intervals are of the form
Woodland and Clear Beach are schools in different states. Alan is a student at Woodland and is 56 inches tall. Goran is a student at Clear Beach and is 45 inches tall. The heights of students at Woodland have a population mean of 65.2 inches and a standard deviation of 4.1 inches. The heights of students at Clear Beach have a population mean of 59.5 inches with a standard deviation of 4.9 inches. For each school, the distribution of the heights of students is clearly bell-shaped. (a) Find the z-scores of Alan's height as a student at Woodland and Goran's height as a student at Clear Beach. Round your answers to two decimal places. Z-score of Alan's height: Z-score of Goran's height: (b) Relative to his population, which student is shorter? Choose the best answer based on the z-scores of the two heights. O Alan O Goran O It is unclear which student is shorter relative to his population
The Richard family has twins Ron and Rebecca. Both Ron and Rebecca graduated from college 2 years ago, and each is now earning $60,000 per year. Ron is an engineer the mean salary for engineers with less than 5 years' experience is $70,000 with a standard deviation of $5,000. Rebecca works in the retail industry, where the mean salary for executives with less than 5 year's experience is $40,000 with a standard deviation of $11,000. What is the z score for Ron?
The U.S. Department of Transportation provides the number of miles that residents of the 75 largest metropolitan areas travel per day in a car. Suppose that for a random sample of 75 Buffalo residents the mean is 25 miles a day. The standard deviation of the population (Buffalo residents) is 5.1 miles a day. For an independent random sample of 60 Boston residents the mean is 23 miles a day. The standard deviation of the population (Boston residents) is 8.2 miles a day. Consider the following hypothesis test. Mean 1 = Buffalo residents ; Mean 2 = Boston Residents Ho : 1 – H2 = 0 H : H1 - 42 0 At alpha = 0.05 what is your conclusion? 0.05 -3.6 0002 0002 0001 0001 .0001 .0001 000 0001 .0001 0001 0.01 0.02 0.04 0.06 0.07 0.09 0.00 0.03 0.08 -3.5 .0002 0002 .0002 0002 .0002 .0002 0002 .0002 .0002 0002 -3.4 0003 .0003 .0003 0003 .0003 0003 0003 0003 0003 0002 -33 0005 0005 0005 0004 .0004 .0004 0004 0004 0004 0003 -32 0007 -3.1 0010 .0007 0006 0006 .0006 .0006 0006 0005 .0005 0005 0009 .0009…
Imagine that every elementary school in California is measured on several characteristics and then given an overall Quality Score. In Los Angeles Unified School District, the schools have an average (mean) quality score of 101.8 with a standard deviation of 7.2. One school in Los Angeles, Carver Elementary, gets a quality score of 104.5. In San Francisco Unified School District, the schools have an average (mean) quality score of 102.3 with a standard deviation of 9.4. One school in San Francisco, Bryant Elementary, gets a quality score of 99.5. Find the Z-scores for both of these two schools (Carver Elementary in Los Angeles, and Bryant Elementary in San Francisco)
One year Terry had the lowest ERA (earned-run average, mean number of runs yielded per nine innings pitched) of any male pitcher at his school, with an ERA of 2.98. Also, Karla had the lowest ERA of any female pitcher at the school with an ERA of 3.37. For the males, the mean ERA was 4.456 and the standard deviation was 0.557. For the females, the mean ERA was 4.166 and the standard deviation was 0.635. Find their respective z-scores. Which player had the better year relative to their peers, Terry or Karla? (Note: In general, the lower the ERA, the better the pitcher.) Terry had an ERA with a z-score of Karla had an ERA with a z-score of (Round to two decimal places as needed.) Which player had a better year in comparison with their peers? OA. Karla had a better year because of a lower z-score. B. Terry had a better year because of a lower z-score. OC. Terry had a better year because of a higher z-score. OD. Karla had a better year because of a higher z-score.
A college administrator wants to see if students in different majors tend to have differing amounts of study time. The administrator collects the following data from 15 students in Sociology, 10 students in Engineering, and 12 students in History. The Sociology majors report an average of 10 hours studies per week and a standard deviation of 3 hours. The Engineering students report an average of 15 hours per week with a standard deviation of 7 hours. The History majors report an average of 12 hours studied and a standard deviation of 4 hours. The data can be summarized as follows: Major n Mean Study Hours Standard deviation Sociology 15 10 hours 3 hours Engineering 10 15 hours 7 hours History 12 12 hours 4 hours Does this data provide evidence for the notion that students in different majors study different amounts? Use α = .05
The tallest living man at one time had a height of 220 cm. The shortest living man at that time had a height of 136.8 cm. Heights of men at that time had a mean of 173.88 cm and a standard deviation of 5.13 cm. Which of these men had the height that was more extreme?
The U.S. Department of Agriculture claims that the mean consumption of bottled water by a person in the United States is 28.5 gallons per year. A random sample of 100 people in the United States had a mean bottled water consumption of 27.8 gallons per year with a standard deviation of 4.1 gallons. Does this sample indicate that the mean annual consumption of bottled water for people in the United States is not 28.5 gallons per year? (Reference: U.S. Department of Agriculture) At a 5% level of significance, what is the power of this test against the alternative μ= 27.4? (For this problem only, assume that the standard deviation of the population (i.e. sigma) is 4.1) O 77% 5% 85% 0.90%
It has been found that with the standard dosage of a drug, the change in people’s uric acid levelis normally distributed with a mean of 240 and a standard deviation of 60. What proportionof people receiving the standard dosage of this drug experience changes in uric acid levelbetween 210 and 270?
The mean weight of an adult Golden Retriever is 67 pounds with a standard deviation of 2.5 pounds. The mean weight of an adult St Bernard is 192 pounts with a standard deviation of 16 pounds. Rachel has a Golden Retriever that weighs 70.2 pounds and JD has a St Bernard that weighs 215 pounds. Who has the larger dog relative to their breed?
The tallest living man at one time had a height of 244 cm. The shortest living man at that time had a height of 92.3 cm. Heights of men at that time had a mean of 174.73 cm and a standard deviation of 6.23 cm. Which of these two men had the height that was more extreme?